currently oversold, so just wait for volume (OBV) to turn, huh?
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currently oversold, so just wait for volume (OBV) to turn, huh?
Potentially some good news for Blue today, with 10% shareholder (KOGAS) possibly buying into GLNG. I guess that is what triggered the late day rally.
Hopefully will be positive towards KOGAS lifting their share in Blue come Feb.
Chart is looking quite good, thoughts? Dble bottom 11.5c MACD crossing positive.
And now looks like TH as at 10.27am ASX time.
resistance at 13c (was support at 13c in early Oct)
my super slow stochastic still shows it oversold, and OBV been flat for months.
I hold.
wait for close above 13c
Anybody still hold this?
Back to the Low again and just off half a cent higher.
Can anybody say, what exactly is going on with this stock? Completely in a down trend and looking like its set to go even potentially lower.
dis: Not Holding
Drilly,
Have a look at page 10 of the Annual report. Blue aims to be a ASX200 company within 12 months. I don't know what market cap you have to have to be in the ASX but BUL would have to reach about 60 cents or so. If Kogas confirm an additional stake next February then it will be plain sailing.
Ive look at BUL, before & i will take another look for when the tide turns, when the CSG sector goes berserk, i expect BUL to get a lift.
I'll be back in the market soon & only have 3 stocks "on the buy list", looking for another 2, maybe a CSG play, will do some digging Drilly & see what the fundamentals look like & shall post my thoughts.
Drilly, i didnt find too much to get me excited off the AGM presentation, BUL's market cap is ~$80m w/$18m cash
Not the most active CSG drilling program out there, but they have some good permits in the Surat basin
Kogas only owns 9.7%, so IMHO BUL's upside is mostly if its apart of M&A in the CSG/Shale Gas consolidation
Better CSG plays out there
Shasta,Quote:
shasta-
Ive look at BUL, before & i will take another look for when the tide turns, when the CSG sector goes berserk, i expect BUL to get a lift.
I'll be back in the market soon & only have 3 stocks "on the buy list", looking for another 2, maybe a CSG play, will do some digging Drilly & see what the fundamentals look like & shall post my thoughts.
you are good value at sharetrader......
And Im sorry im the one who has to tell you this... Im a be straight up wif you,
BUT,
you are always just looking...you are always rechecking positions...you are always watching... you are always sticking your ore into every possible topic... your always waiting... your always just getting back on the market...
what is the point of having a watch list... to watch it...?
ok ok, we all did that... but that was a decade ago, and 20years back right?...
have you really been out for all this time with no inclination to get back in on all these juicy whales...
Did rapid fire sale not lift an eye lid ?...
Hey dude... I saw rapid fire sale before the market crashed, so went back all in after being all out.....
LOL...how silly and naive I was...
you were smart enough in your own way....
So...You are waiting for the CSG sector to go beserk...
WHAT ARE YOU waiting for to be convinced...
You are a good person, but if you havent seen it, then its time for you to say
#1) I step aside.
#2) Ive found something better...
so if its still doomsday...? where are you holding your assets....
I hope its not those banks...
Smart money is in the market and has been for as long as you and I have invested...
:cool:
.^sc
Hummm...Quote:
Drilly, i didnt find too much to get me excited off the AGM presentation, BUL's market cap is ~$80m w/$18m cash
Not the most active CSG drilling program out there, but they have some good permits in the Surat basin
Kogas only owns 9.7%, so IMHO BUL's upside is mostly if its apart of M&A in the CSG/Shale Gas consolidation
Better CSG plays out there
Leveraged, its hard to go against pure acerage like this...
doesnt matter about activity, infact for juniors activity costs too much money...
This is about pure consolidation of CSG acerage that is worth dollars per share with the market saying cents per share...
20-25cents in the dollar is what the market values this that...
Much more to come...
Found my own destiny...
thinking PNG LNG gets be there quicker...
hehehe all you CSG bazookas... AK47.... UTUTUTUT..
:cool:
.^sc
Shrewd
Ive been out of work over a year now (to sort out some health problems), & due to personal circumstances had to exit the market, im now ready to return to work & re enter the markets (hasnt been too bad sitting on sidelines & just watching!)
I've always kept an eye on stocks ive previously held, & i'm always researching & looking for more to follow across different sectors.
With regards to CSG companies, i've held, VPE/VPEO, ESG, BPT & COI previously, & i have been looking at a new CSG play of late
For me, there are better plays than BUL
Thanks Bermuda, Shasta, SC
No doubt the BUL sp will climb its way back, but I just wondered why its been just sitting there in the gutter. I guess the sector atm is in the gutter to some degree.
Good to buy the low or near it but depends how much or how long one wishes to tie up their money before something happens here.
Like all things, time will tell.
An article on Galilee basin for those who are interested.
A wee snippet down the bottom saying Blue is talking more to Kogas. Surely Kogas would be interested if the other majors are getting a slice?
Might also explain the astronomical rise in LNC - Their royalties from the sale of the Galilee coal mine seem to be inching closer and closer. 30mtpa?!
Tend to agree with you upside, slowly acquiring at these prices and content to wait. Have it as a pick in the competion.
Dunno fellas.
This ones been a dud so far. Id be waiting for the bottom to be clearly in before sticking a toe in that cold water.
2.2 mil turnover aint out of the ordinary either.
Hi Guys
Have you looked at GLL(Galilee Basin). Good acreage, AGL hooked in $37m production pilot, most advanced programme in the Galilee and cashed up from sale NZ assets to Bathurst. May be longer term play.
Disc. small holding
Does anybody actually still hold this stock?
Seems like with all the flooding going on over here in QLD, it has knocked the sector a bit, but seems BUL has escaped some of it on some tenements.
4th paragraph of today's Operations update says:
As previously advised, the Monslatt 8 lateral well was successfully drilled to intersect the
vertical Monslatt 7 well late last year. Down hole pumps have been run in Monslatt 7 and
surface equipment has now been installed so that pilot production testing can commence by
the end of the week.
By the end of the week? Sheez, they must have been lucky to escape the floods on these tens.
Drilly,
I hold in my wife's portfolio. Heaven help me if she asks how they are getting on. I think I will say that all things considered, they havent put a foot wrong.
It will be interesting to see what Kogas do at the end of February. With these floods there may be another extension but they seem to be making pretty good progress nevertheless.
Cheers Bermuda,
I guess that is a good way to explain to your wife, though still appears to be in a down trend, it's starting to look like this stock has maybe bottomed since its been in this range since the 24th of Nov/10 approx. Maybe some good news will be the solution to kick this back to test higher levels.
May I ask, what is exactly is meant to happen with Kogas on at the end of Feb?
Drilly,
Kogas were looking to increase their stake in BUL last year. ( they already have about 10% ). It was conditional upon 814 performing and the outcome of that Dipstick Rudd's Supertax.
They deferred and got an extension to the end of February.
I think KOGAS would be happy now that the Supertax fiasco has died down and BUL must be more than pleased with their progress at 814 . So I am hopeful that KOGAS will take a further position in the first half of this year ( another small extension might be required ).
That is what the market is waiting for. BUL would sure leap on that news. But Kogas won't be liking these floods. Fortunately they have dodged them so far.
Hi Strat,
Or I could say quite truthfully
" They are on tract to become an ASX200 company which is very good news for your portfolio Dear. One of your best returns ever. The floods haven't helped and as I have said before that Rudd must be a complete Dipstick. But this thing is going to surprise a lot of people. Just need the weather to settle and Kogas to confirm".
That should do the trick.
Hi Bermuda.
I know they have said they will be ASX200 and Im sure they want to be. I can believe they intend to be but the SP has to go north a long way before they get there. I am watching. Im watching close in fact. I love good companies that are hated or ignored for long periods of time. When they finally do get it right or get noticed they go off with a bang.
Right now though ( and correct me if Im wrong ) they have a whole lot more flooding to deal with so it could be a while.
Blue Energy seems to be consolidating at the moment with the recent flooding. I am wondering what a break out trigger could be for BUL. They seem to be getting further and further behind proving up their reserves and their quarterly was very uninspiring to say the least. They have some good acreage and they could be a bargain at this price if KOGAS comes to the party.
Just hope there is no more weather delays.
Rabbi, anything is possible re-weather here in Qld.
With regards to consolidation, yeah but its been doing this for the past 6 months there abouts whiles in a slow downtrend which now appears to be bottoming.
If you read Bermuda's posts you will see some factors governing some potential impact towards sp, but as you say, it first must get and stay dry for a while, however not all tenements are actually flooded are they, so this co or sp could use a shot in the arm, even if its technically on the chart by busting past 13c where the 150 EMA currently is.
Good news is, the 13ema has crossed the 50ema so I will be anticipating a bit of a run any week now, as this stock seems have movement spikes or lunges in weeks to months at a time.
Like always, time will tell.
disc: Holding a small parcel at 11c in a long term acc
A sudden step down for Blue with big sales at 11c. I hope it's a "bear raid" on Blue but it looks suspiciously like some larger shareholders getting out. :scared:
Ohhh My My,
Break down here folks, cheap shares for those who seek the cheap stuff.
Support no where to be seen atm, perhaps somewhere in the 0.09+c level, lets see how this plays out.
Looking at the 2 year BUL chart is awful viewing! A high of 31-32c and now currently at 9c with a capital raising just announced. Any views on how big the discount will be?
BUL seems to have bottomed.
Perhaps it is finally on the mend?
Strat, the capital raising my also put additional pressure on the share price!
Yeah Corp. I guess the offer will dictate the SP to a degree.
Tough call for BUL. If the offer is to expensive they wont get it filled and if its too cheap it will undermine the SP.
What they plan to spend the money on will have an impact too. Hope they have some good news up their sleeve. Gonna need it I reckon.
When my wife opens the SPP letter I will stick with the same story as per above but mention that the floods have pushed BUL's apirations of becoming a ASX200 company back to the ASX300 ...for now. Hopefully that will work. Hopefully she won't ask me how the sp has performed.
Wow Bermuda, forgot about the wife situation here.
Hey, she loves you for you and not your/her money and stock picks right? Same story I would say, still plenty of water to go around and surely this stock cannot be far from its bottom now.
I would also agree with Corporate on the Management issue here. Surely there is an issue. Any decent management would not just plead innocent and only sit on their hands waiting for one thing or another to happen. Good management are Dynamic as you know and MAKE THINGS happen, and give no excuse for performance degradation, or at least to a certain level beyond control, yet they still would be proactive in thinking outside the sqare.
Or to me, like most they are getting paid so why worry, they can sleep at night knowing shareholders foot the bill every time.
Anyway, hope all is well on other fronts there Bermuda.
As the Ann below says that "Blue Energy is establishing itself at the forefront of the group of non-export LNG committed companies"
Folks, I thought Blue Energy were going to be exporting Gas to potentially Kor Gas or something, wouldn't that mean to internationally?
8c placement hey, well, I guess that would be the floor if there is one.
Wouldn't mind getting a long term parcel of these below 9c for the long haul yet what are other peoples thoughts on the above? Does this mean all this Gas only meant to service the Local QLD and/or Australian Market?
I do realise the Gov over here want this policy for a % of GAS to be reserved for non export and national security interests wish to keep it national development and use and that is fine, but what about these KorGas dudes and their agreements?
=============================
1 April 2011
ASX ANNOUNCEMENT
INSTITUTIONAL PLACEMENT
Blue Energy Limited (ASX: BUL) advises that it has executed a private placement with three
institutional investors, to raise $6 million by the issue of 75 million ordinary fully paid shares, at
$0.08 per share.
Following the announcement on 1 March 2011 of a doubling of total discovered gas in place
(GIP) volume in Blue Energy’s Monslatt, Sapphire and Central Bowen Basin Blocks of
ATP814P to 7,018PJ and a 60% increase in 3C Contingent Resource to 2,063PJ of
recoverable gas, the Company is actively working towards the conversion to reserves.
Funding will be applied to establish economic gas flows from the Monslatt Block, and from the
Central and Sapphire Blocks of ATP814P, which if successful, should provide a significant
volume of gas for Blue Energy to market.
In addition to gas reserve targets in ATP814P, Blue Energy is establishing itself at the forefront
of the group of non-export LNG committed companies, with a targeted exploration programme
across its 21,0489km over 7 tenements across the two premier CSG producing basins
(Bowen and Surat Basins) in Queensland, plus the Galilee, Maryborough and Cooper/Eromanga Basins.
As a result of this Placement, Mathews Capital Partners Pty Ltd will become a Substantial
Shareholder in Blue Energy, above 5% of the issued capital.
=============================
Drilly,
I have just come back from lunch and its good news all round. My dear wife won't be getting a letter, she won't be asked for additional funds and blow me down if we haven't attracted a first class investor.
Always knew this was a good horse. Just likes a hard and fast track. Can't stand the wet.
Mathews Capital partners investing in Blue Energy is about the best endorsement any company could get. This fund is one of the most successful in the world in terms of returns.
They like CSG as they have previously been in Arrow and have a stake in Santos.
I can only assume they see BUL as being seriously undervalued due to the weather and not the management team. They would have already been in and talked to the management team and must have liked what they heard.
Onwards and upwards.
Go the BUL........................
yes she's on the way strat, mr b will be happy.
Indeed, it looks like the previous Low was the Low and the zone to bounce from. Well played for those that accumulated in below the 10c mark.
Should have clicked on earlier and bagged this one for the long term account. Oh well, still early days.
Ron,
This Mathews thing has given me just the greatest buzz. As you know I have always loved this stock. It has taken a long long time but with Mathews on board things will get a lot better. ( Might even tell the wife.) Oil goes up. I hope they don't destroy Ras Tanura.. My advice to all. Get your household well provisioned and fill your cars.
And buy gas stocks.
Hi Ron,
I have not seen it. The last pm you sent me was about the 2nd OXX drill being a better chance that the first. That was just before the bbq here. Which we discussed.
I am sorry I have not seen any others although I did get a message from the administrator recently saying that my inbox was full and that Brut was trying to send a message. So I have cleansed my file.
Here's to OXX and BUL.
Cheers
Looks like the charging BUL has come up against a Cattle Stop
Hi Strat,
A cattle stop maybe, but a buying opportunity as well.
Cheers
Paddie
Some good support today for BUL considering how the overall market is faring.
Paddie
I was just thinking that. Bank of America are now a big holder with 50 million shares and they tend to play around with the SP by buying and selling. They are in Beach as well and they manipulate their SP up and down. I'm not sure whether they are shorting or just trading but whatever it is it causes volatility.
Must be Mathew capital partners using BOA, they are at 7% so have gone substantial.
I would expect them to play around with the SP, "actively controlling their holding". Smart boys with big pockets.
Have a feeling they might have a position in BOW as well. If so that would mean they must think this sector will heat up again real soon as they don't tend to take overly long positions.
They got burnt with BPT after the GFC but returned with a vengeance.
Seems that they like gas and plenty of it. Interesting.
Wow. MC now 60 million.
Would any of you FA guys care to put a value on BUL for me?
Hey Strat, there you are, where you been mate, been a while since we seen some of the Strat posts anywhere.
Welcome back and hope your keeping well. :)
Hey Drilly.
Been very busy with work plus still in the "NO BUY" zone so not a lot to say.
That said, GOR and NWE lookin good today.
How you doin?
Doing Ok I guess under the circumstances, but as usual, could be better, could be worst, but then such as life. As long as I am breathing and can smile and laugh at the previous triumphs or mistakes I think I will be fine.
Have not been following GOR much, but remember the old NWE days where they used to hand out lashes of the whip for even attempting to trade them, and now look at them. Grass always seems greener on the other side...lol
Take care and catch up again hey.
Cheers :)
Hi Shasta,
can you put a value on BUL please they have to be cheap at 8.2 surely/ thanks
Well, bath water or baby, it don't matter in these markets, let alone the sector as a whole.
If I had a favourite down trending stock to use as an example, this would have to be it.
Hi Drilly.
Dont know about it being a favourite. Bit hard to read with quite a few false starts all the way down. The last one was fairly convincing too. On my chart the down trend is riddled with markers saying "BUY???". lol
Great bit of dirt but they just dont seem to get things done. At 5 to 7c its got to be/ maybe worth a punt eh?
Chances are though, the Market will turn, BUL will creep back up to 10-20c and still nothing done.
Lots of other Specs that have also been hammered and more likely to announce something good sooner rather than later I reckon.
Hi Strat,
Yeah, I dont dismiss for one second that many specs have been completely and totally hammered, but when viewing the charts over the past say approx 6+ months you can see trends that view like the side of a mountain and many fallen off a cliff type of view.
What I meant with BUL though was that is has a long sloping Ski Slope type view with all classic equally dispersed falling MA's, hence my example of the downtrend comment.
No doubt when the sector and stocks sentiment changes this will change and thus too the Trend with it. Once that is achieved then no worries about it going back up again, yet Technically at present this is a hard thing to do whilst as you know the world is full of uncertainty along with the current Global Sentiment as well.
From 6 cents to 8.3 cents in a week. Still a horrible SP.
Gazprom
Not so horrible if you are trading.
30% profit in a week you bought at the lowest.
Nice rise in the past couple of days probably on the back of the ESG news.....
Seems to be a bit of interest in Blue Energy with the CSG sector heating up again with recent takeover activity.
There is potential for BUL to achieve significant 3p and 2p reserves and their acreage is well located.
The next few months could be a turning point and well worth a punt at current price.
KOGAS and Stanwell corp. are cornerstone shareholders as well as Matthews Capital partners .
Blue Energy is undervalued and still under the radar.
The FA has always been good, now the TA is following....BUL broke out of a year long down trend with good volume (gapped up over the trend line, classic!), there still seems to plenty of punters selling into the rise so I am looking to see if a up-trend is confirmed. Getting ready to buy again...
I have been watching this too guys. Quite interesting, as there have been a few stocks or sector on the move, but just wondering if this is a real deal continuation or just a false "what sector will be next move" type of event.
Perhaps a rotation of money which will last until a complete solid move shows us the conviction? Time will tell.
absolutely incredible... beyond belief....7.4cents...
what is going on...
:cool:
.^sc
Just one XT trade of $3700!
Guess not much going on.
Happy New Year Michael
Shrewdy,
When stocks rise and then idle, and then completely idle, I tend to blame management for lack of creativity and use of power of their position into making "Their Companies Story" into something convincingly worthy so to speak.
This does not mean make up fairy tales and tell lies, but more so, show some stamina in the Belief for anybody whom wishes to invest in the company. Management seem too passive for my liking, kinda like the Kate Hobbs Syndrome, where by the do and say something once and they think that will cut it, and then meanwhile back at the ranch, the shareprice is sitting on a piece of thin ICE ready to collapse potentially.
Each to their own though, but who would have thought that when this was 20c + that the stock would be sitting at this price where it is today approx 7.4c with a 52 week low of 6c.
A joke and serious management need to do exactly that = manage seriously.
No investor interest in BUL and none likely in the immediate future. With not much of an increase in 2P reserves over the last year the SP is languishing. Even worse to come when they run out of cash and have to further dilute with a capital raising or another private placement.
Stanwell and kOGAS are still on the register along with Phil Mathews but apart from that not much to like about BUL
hey hey wim,
Alot of investors/posters have the same feeling/sentiment as the share price...
This company is still going to be huge, it just takes more time...
BUL hold some key jigsaw pieces,
give it time...
watch this roll out...
:cool:
.^sc
Got another 400k at 7.1
This is one long gestation.
you have gone in deep on this one Bermuda.
This and NWE look interesting. What are we waiting for on BUL?
It looks like NWE is just about to shoot through!
Yes I have gone in reasonably deep because they have the acreage and their sp was held back by factors such as floods, Opes sga and Kogas sitting on the fence. These are the sort of stocks to accumulate before they blossom. As we get nearer to 2014 ( Gladstone ) this stock will realise its true worth. Also, and this is significant, we have got ourselves some very nice shales which are worth an awful lot of money.
Just have to be patient. ( in retrospect I could have done a lot better than get hooked into this slow coach...but every dog has its day and BUL's shales will surprise.
Attachment 3750
They all look interesting, don't they.
Which is the "Surat" of them all?
This company made some big claims leading into 2011 abotu asx 2011, but seems to have only achieved a capital raising.
When is it going to get a move on?!
It's got a bit of CSG but even so, they're aiming for 3000PJ in 3P in 2 years
The shale hasn't even been awarded but probably a formality. It just looks like there is quite a bit to wait for before it can even start the engine.
How on earth did it manage to get Kogas and Mathews capital on board and then proceed to do nothing much else all year?
I suppose if you are patient, it's MC is sufficiently low to offer quite a few bags over time.
What do you guys make of the location of the maryborough shale basin with respect to NIMBY's and environmental concerns.
It's right on Harvey Bay and Fraser Island (world heritage listed?)
It doesn't sound like that is going to be an easy ride, despite it's prospectivity.
Thoughts?
Former Santos chief executive John Ellice-Flint is set to join blue.
Have been following this stock, but havent bought any.
Blue reckons it has a rich 16,000 petajoules of gas in place in its Queensland tenements, which span the Bowen, Surat, Galilee and Maryborough basins. It is targeting 3000 petajoules of proven, probable and possible reserves in eastern Australia's LNG province by 2014.
BUL is in a trading halt.
Blue Energy Limited (Blue Energy) (ASX: BUL) notes the speculation in today’s media and confirms that it is currently in discussions regarding potential capital raising transactions with a number of third parties.
Heavy trade so far today 23m shares up to 10c. Against the trend after ann. CR. and existing SH can participate at 0.625 up to $15000 in value. Clearly market likes news of Elice-Flint appt. Not holding myself (GLL) but sign of heating up in the CSG sector
Why wouldn't you sell your holding or some of it today (at 9-10c) and buy back in around the allotment date?
I am sure that this will head towards 6.25c, and even if it doesn't you can purchase 240,000 @.0625c if you take up your $15,000 entitlement.
Paddie
Hi Paddie,
The roses are blooming. You may be right about the sp retracing but I am hoping today's rise is because the market have been exposed to a CSG Company that could have 3000 3P by end 2014. At say 40 cents/Gj that equates to a share price of $1.66. And that doesn't even factor in their Maryborough shales.
This has been a good exposure for BUL today. Ellice-Flint could actually give this a shake. I will just sit and wait. What a reward.
Cheers and thanks.
Hi Paddie,
I have a modest holding in BUL (A$17,000 approx...was around A$40,000 when I bought it!!!) and do not want to have a larger holding despite its potential....probably will regret it in the months ahead. So, I have sold today at 9.4 cents and will take up my entitlement to the A$15,000 in full at 6.25 cents. Works for me.
Gaz
Makes sense. I've jettisoned my small holding too because I can buy them back at 2/3 of the price. It'll help blunt the pain of originally buying in at 23c :(
Also, they say the SPP is capped so no guarantee everyone would get their $15K worth. Correct me if I am wrong.
OTL, small holding is good enough to get entitlement to the SPP. I wished I bought a few in the 7 cents region to get an entitlement.
Hi Gaz,
If you sold 240,000 BUL @.094c (as you did today) you would get A$22,560 and you would buy the same amount back for A$15,000. A nice profit of A$7560 and then add on the exchange rate.
Easy money and I still believe that this will end up around .0625c.
Doesn't hurt to bank a few dollars in this market.
Paddie
You need to bold that with capitol letters Paddie, so well said~!
Gaz, undoubtedly I would do exactly the same had it been me and preferably before the rest of the market does it, so on that note, well done!
Not sure if I am still in a partial state of shock having thought about how I traded BUL when they were in the 20's, though I am sure following some of the basic rules of the Technicals can save you quite a bit of pain with one hand, although cost you dearly with the other hand at times, unless your finger is always on the pulse of course.
As always, time will tell.